12 and return him to work in his former position and at his former annual salary of ,795.
He was cleared to return to work in the banking sector by the Federal Deposit Insurance Corp. 26, after it approved his request for an employment waiver.
A record number of fired bank workers are pursuing such waivers.
The FDIC, which handles the waivers, is on pace for a record 189 applications this year and received 151 in 2011.
The bank fired Richard Eggers, a former customer service representative, in July under a federal employment rule for financial institutions that was expanded after the 2007-08 financial crisis."If Wells Fargo had agreed to our requests, I would have returned to work," said Eggers, 68.
"But this isn't just about me -- I'm eligible for Social Security -- this is also about the thousands of working families with children which have been hurt by the same rules." Employment attorneys estimate that as many as 3,000 low-level bank employees have lost their jobs under the rule, which was expanded to include mortgage originators.
The company, which is the largest US bank by market capitalization, has fired some 5,300 employees in connection with the scandal, in which workers quietly took advantage of customers in an effort to reap rewards and game an employee-incentive program.How exactly were employees ripping off account holders?There were four basic ways, according to the CFPB: The good news for consumers: Wells Fargo is in the process of paying out some .5 million to reimburse affected customers, and account holders don't need to take any action to get their money.“We are confident that our practices and controls to guard against such abuses are stronger than ever.Simply put, activities like those described in the allegations will not be tolerated.”Shareholder attorneys accuse the bank’s governing board of turning a blind eye to unethical dealings they say raise questions about how the entire industry is run.“Frankly, this is a shocking case,” said San Francisco attorney and former supervisor Louise Renne, who represents several shareholders.The bank will send notices to those who were taken advantage of explaining what happened and how much they're being refunded.